Guess what, music fans? Katy Perry, the iconic singer, songwriter, and all-around superstar, just made a jaw-dropping deal that’s causing waves in the music industry. Hold on to your hats because we’ve got the scoop on this exciting news!
Katy Perry, at the age of 38, has officially sold her music catalog for a mind-blowing $225 million! That’s right, $225 million! You read it correctly, and it’s not a typo. This is huge news, and it’s all thanks to Litmus Music, a catalog rights company backed by the private-equity group Carlyle Group LP. They’ve just acquired the rights to Katy’s five studio albums released under Capitol Records.
Billboard broke the news on September 18th, and the details are fascinating. Litmus reportedly shelled out that colossal $225 million for Katy’s stake in the master recording royalties and music publishing rights to her five albums. To jog your memory, these five albums are absolute classics: “One Of The Boys,” “Teenage Dream,” “PRISM,” “Witness,” and “Smile,” spanning from 2008 to 2020. Can you believe it? It’s like a musical journey through the years!
Katy Perry’s impact on the music scene is undeniable. She’s made history by becoming the first woman, and only the second artist ever, after the legendary Michael Jackson, to have five songs from the same album reach the top of the Hot 100 chart. Those chart-toppers include hits like “California Gurls,” “Firework,” “E.T.,” “Last Friday Night (T.G.I.F.),” and “Teenage Dream.” That’s a pretty exclusive club to be a part of!
Now, here’s where it gets even more exciting. Litmus Music’s co-founder and chief creative officer, Dan McCarroll, used to be the president of Capitol Records. This means he’s had a working relationship with Katy for over a decade. In his statement to Billboard, Dan expressed his honor and excitement about partnering with Katy once again, describing her as a “creative visionary” who’s made waves in music, TV, film, and philanthropy. Their history together makes this deal even more special. He said:
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy.
I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire.”
Hank Forsyth, Litmus’ co-founder and chief executive officer, chimed in, highlighting the significance of Katy Perry’s songs in our global cultural tapestry. He emphasized how these songs are truly “essential” and expressed his gratitude for working with such a trusted partner. It’s clear that Katy’s music holds a special place in our hearts, and Litmus is thrilled to be part of her journey:
“We are so grateful to be working together again with such a trusted partner.”
But the excitement doesn’t end there. Matt Settle, the managing director at Carlyle, added his perspective:
“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture.”
That’s something worth celebrating!
And if you’re wondering about Litmus Music, they’re no strangers to striking deals with top-notch artists. They’ve previously acquired the publishing and recording rights for talents like Benny Blanco and Keith Urban. So, it’s safe to say they know what they’re doing in the music industry.
Katy Perry’s music catalog sale is nothing short of sensational. With her iconic songs and Litmus Music’s expertise, this partnership promises to be one for the music history books. We can’t wait to see what the future holds for Katy and her incredible repertoire. Stay tuned for more musical magic!
